Egypt Boosts Energy Future with 40 New Oil and Gas Discoveries

In a significant development for Egypt’s energy sector, Minister of Petroleum and Mineral Resources Karim Badawi announced that 75 wells were drilled across the country between July 2024 and May 2025. Of these, 69 were evaluated, resulting in 40 new oil and gas discoveries. These finds represent estimated reserves of 42 million barrels of oil and condensates and 1.3 trillion cubic feet of natural gas.

During a press conference, Minister Badawi highlighted key regional achievements. In the Mediterranean, eight wells were drilled and fully assessed, leading to five gas discoveries holding 1.2 trillion cubic feet of gas and 4 million barrels of oil and condensates. Meanwhile, in the Gulf of Suez and the Eastern Desert, 12 wells were drilled, with 11 evaluated so far, producing six oil discoveries. These contribute an additional 1.7 billion cubic feet of gas and 6 million barrels of oil and condensates to Egypt’s reserves.

The Western Desert emerged as the most fruitful area, recording 29 oil and gas discoveries. These hold an estimated 32.7 million barrels of oil and condensates and 46.5 billion cubic feet of gas.

Minister Badawi also reported that 12 new exploration agreements were signed during the 2024–2025 fiscal year and the preceding months. These deals are worth a total of $631 million in committed investments. Furthermore, 15 additional agreements are in the final stages of approval, expected to bring in another $298.48 million.